This report by Qeye for Todd Energy describes the results of a rock physics modelling study and 3D seismic simultaneous AVO inversion of data covering the Kapuni area within PML38839, onshore Taranaki Basin. The data used in the project including two sets of Kapuni-3D processed by CGG and Earth Signal Processing, geophysical well log data, interpreted seismic horizons and fluid properties. The primary objectives of the project are to de-risk existing prospect and leads and identify further leads and prospects. Appendices can be found in the enclosure to this report.